One Capital Management LLC Raises Position in Adobe Inc. (NASDAQ:ADBE)

One Capital Management LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 25.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,901 shares of the software company’s stock after buying an additional 4,415 shares during the quarter. One Capital Management LLC’s holdings in Adobe were worth $12,167,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Tradewinds Capital Management LLC lifted its position in shares of Adobe by 266.7% during the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC increased its stake in Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after buying an additional 45 shares during the period. Summit Securities Group LLC acquired a new position in Adobe in the 2nd quarter worth $33,000. Lynx Investment Advisory purchased a new position in Adobe in the 2nd quarter valued at about $39,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Adobe during the second quarter valued at about $39,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

NASDAQ ADBE opened at $536.87 on Monday. The company has a 50-day moving average price of $553.76 and a two-hundred day moving average price of $519.73. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The stock has a market cap of $238.05 billion, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.26 EPS. Analysts forecast that Adobe Inc. will post 14.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ADBE shares. KeyCorp increased their price target on Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a report on Friday, June 14th. Stifel Nicolaus increased their target price on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Oppenheimer restated an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research note on Friday. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Robert W. Baird raised their price objective on shares of Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $606.58.

Insider Activity

In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the completion of the sale, the chief executive officer now owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the completion of the sale, the chief executive officer now directly owns 379,660 shares of the company’s stock, valued at approximately $206,576,802.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the transaction, the executive vice president now owns 19,658 shares of the company’s stock, valued at $10,556,346. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,259 shares of company stock valued at $14,855,543. Company insiders own 0.15% of the company’s stock.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.